Burglar Alarm Systems Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Burglar Alarm Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Burglar Alarm Systems Global Market Report 2024, The burglar alarm systems market size has grown strongly in recent years. It will grow from $5.41 billion in 2023 to $5.9 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to rising crime rates, home and property protection, insurance premium reductions, urbanization and population growth, government initiatives for public safety.

The burglar alarm systems market size is expected to see strong growth in the next few years. It will grow to $8.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to integration with artificial intelligence, cloud-based security solutions, smart city initiatives, biometric authentication, energy-efficient and eco-friendly solutions. Major trends in the forecast period include mobile app innovations, technological integration, advancements in sensor technology, smart home integration, integration with video surveillance.

The increasing popularity of smart homes is expected to propel the growth of the burglar alarm system market going forward. Smart homes are residences equipped with interconnected devices and systems that can be remotely controlled and automated, enhancing convenience, energy efficiency, and security for occupants. In smart homes, integrated burglar alarm systems offer remote monitoring, alerts, and automation for enhanced security and convenience, using smart sensors, cameras, and mobile apps. For instance, in September 2022, according to Data Conomy, a Germany-based portal for news, events, and expert opinion from the world of data-driven technology, by the end of June 2022, there were 17.1 connected gadgets and smart home appliances per home on average around the world, a 10% increase over the previous year at the same period. Therefore, the increasing popularity of smart homes will drive the growth of the burglar alarm system market.

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The burglar alarm systems market covered in this report is segmented –

1) By Type: Wireless Burglar Alarm Systems, Wired Burglar Alarm Systems

2) By Component, Hardware, Software, Services

3) By Application, Commercial And Industrial Applications, Residential Applications

Major companies in the burglar alarm systems market prioritize innovative features such as smart arming to boost user security and convenience through remote control and gain a competitive advantage. Smart Arming is a feature that can intelligently auto-arm and disarm based on user activity. For instance, in December 2022, Alarm.com, a US-based provider of home smart alarm security systems, launched the smart arming feature. The function allows customers to select the times of day when they want their system to arm and disarm. If the system senses activity or motion outside of these hours (e.g., an early riser wanders downstairs ahead of schedule), it immediately disarms.

The burglar alarm systems market report table of contents includes: